Author Topic: Student Loan paid off  (Read 2035 times)

Financial Threedom

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Student Loan paid off
« on: May 24, 2014, 07:56:47 PM »
I did this by paying 30% of my net income (my gross is just over 50K annually)  for the last 9 months.   During this time I also continued to save 15% of my net for retirement savings.  This was also done while my wife was on mat leave (earning about 45% of her salary on EI here in Canada) while she ALSO continued to save 10% of her normal net pay (or about 18% of her EI) no new debt accumulated either.
I know not as frugal as most here, but many friends and co workers said my payments were not sustainable.  BOOYA.

Frankies Girl

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Re: Student Loan paid off
« Reply #1 on: May 24, 2014, 08:50:44 PM »
Awesome!! Even more amazing considering you were down a bit of incoming salary...
:D

NV Teacher

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Re: Student Loan paid off
« Reply #2 on: May 24, 2014, 09:46:56 PM »
I did this by paying 30% of my net income (my gross is just over 50K annually)  for the last 9 months.   During this time I also continued to save 15% of my net for retirement savings.  This was also done while my wife was on mat leave (earning about 45% of her salary on EI here in Canada) while she ALSO continued to save 10% of her normal net pay (or about 18% of her EI) no new debt accumulated either.
I know not as frugal as most here, but many friends and co workers said my payments were not sustainable.  BOOYA.

Good for you.  I've been doing the same thing since January and I will be finished with my SL in August.  It's been tough but so worth it.